Siegfried reports a slight increase in profits

11:31 AM MDT | August 22, 2014 | Deepti Ramesh

Siegfried (Zofingen, Switzerland) reports a 1.6% rise in net profits for the first six months of 2014 compared with the year-ago period, to 18.8 million Swiss francs ($20.5 million). First-half sales decreased 16%, however, to SF165.1 million. Fluctuations in currency exchange rates and raw material prices as well as the introduction of a new technology during first-half 2014 hurt sales development, Siegfried says. Profitability continued to grow as the result of cost variabilization as well as consistent cost management and efficiency-raising measures, the...